The New CLARITY Act Comes With an Ethics Rule That Expires With Trump’s Presidency
The 616-page bill bars federal officials and their spouses from issuing or sponsoring tokens, expressly lets them keep investing, routes enforcement through the DOJ, and sunsets at noon on January 20, 2029. Three design choices that add up to a conflict-of-interest rule engineered not to bind much.
See the full 616-page bill here.
The waiting is over, at least for the text. On July 22, Senate Republicans released a 616-page version of the Digital Asset Market Clarity Act (the merged product of the Banking and Agriculture Committee bills) and teed it up for a possible floor vote as soon as next week. After a year in which the ethics provision was the reason nothing moved, we can finally read what a landable version looks like. The answer, on the terms reported by The Block, which obtained the text: an ethics section parked at the very end of the bill...
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